Latest News & Analysis – Page 173
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ArticleSporting goods suppliers face long-term coronavirus effects
The current coronavirus pandemic is having a major impact on the suppliers of sporting goods, particularly in terms of orders, material shortages and cash. Reports from China, Vietnam, Cambodia, Indonesia, Bangladesh, Myanmar and other major sources indicate that many of them are resorting to massive layoffs or facing labor shortages ...
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ArticleAn excellent quarter for Garmin in Outdoor and Fitness
Garmin’s fitness division had a stellar performance in the first quarter. Revenues in this segment soared by 24 percent to $180.3 million, as the group benefited from the home fitness boom due to the lockdowns in place in many countries. Sales were driven by advanced wearables and Tacx indoor bike ...
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ArticleColumbia’s results are hit by Covid-19
After a brilliant financial year in 2019, Columbia Sportswear did not have a great start to 2020 due to the Covid-19 pandemic. Its net profits stood at just $0.2 million, down from $74.2 million for the year-ago quarter, while sales dropped by 13 percent to $568.2 million. Lower consumer demand ...
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ArticleThule grants warrants after a small sales drop
While withholding the payment of dividends to save cash because of the Covid-19 epidemic, Thule Group’s annual meeting approved an incentive program for executives and key employees after the company reported a relatively small 7.5 percent decline in sales during the first quarter of 2020, with drops of 13 percent ...
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ArticleCallaway’s shares rise on longterm prospects
Callaway Golf Co. released preliminary results for the first quarter which pointed to a drop in revenues and earnings due the coronavirus, but it expressed optimism going forward for its golf equipment and outdoor clothing operations, leading the share price to jump by 17 percent. The group said it expects ...
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ArticleVista’s earnings to top guidance
In a business update, Vista Outdoor said that adjusted earnings for its fiscal fourth quarter will exceed its own guidance, adding that it has the support and financial flexibility required to navigate the Covid-19 pandemic. Vista expects to enter its fiscal year 2021 with more than $150 million in available ...
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ArticleStadium starts second-hand online store, rents outdoor gear
Stadium, the largest sports retail chain in Sweden with a strong presence in Finland, revealed its partnership with eBay (operated in Sweden by eBay’s subsidiary Tradera) to launch a second-hand online shop for sports and outdoor products as a new business segment. Like most others, Stadium has been hit hard ...
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ArticlePolish outdoor market on the way back to the “new normal”
The effects of the coronavirus pandemic are striking almost every business segment around the world. The Polish outdoor industry and retail is no exception. The commitment to social isolation imposed by the Polish government in mid-March with a total ban on travel and recreation in public areas (including parks and ...
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ArticleOpen letter from EOG’s Mark Held: Message of collaboration
Source: European Outdoor Group Mark Held, EOG President The president of the European Outdoor Group (EOG), Mark Held, has published an open letter to the outdoor industry, calling for continued sustainable, ethical cooperation during the coronavirus outbreak, and outlining why that is important now, more than ever. ...
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ArticlePolish Outdoor Group calls for European solidarity
In an official letter sent to all European outdoor associations, the Polish Outdoor Group calls for European solidarity during the Covid-19 crisis. You can download the original letter as a PDF below.
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ArticleEurope and e-commerce help Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide fared relatively well in the first quarter ended on March 28 – given the challenging conditions caused by Covid-19 – thanks mainly to higher online sales and strong performance in Europe and by the Saucony brand. The ...
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ArticleVF lowers outlook and announces refinancing
While releasing new financial data and targets and announcing new measures to refinance itself, VF Corporation indicated that it wants to acquire more fast-growing action brands like Altra or Icebreaker and become more “vertical,” boosting a direct-to-consumer (DTC) business that has come to represent 39 percent of its turnover. As ...
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ArticleGoPro shifts focus to DTC
While cutting costs, GoPro has decided to shift more of its business to the direct-to-consumer (DTC) channel as its sales have gone down because of the quarantine-shuttered brick-and-mortar retail sector. Accordingly, the American brand of action cameras has hired a chief digital officer – Aimée Lapic, former chief marketing officer ...
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ArticleGermany, Austria and other EU countries begin to ease retail restrictions
(SGI+) German chancellor Angela Merkel announced this week that certain types of shops could reopen in Germany as of April 20. In addition to car dealerships, bicycle shops and bookstores of all sizes, retailers for “non-essential items” can reopen their doors as long as they do not exceed a sales ...
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ArticlePolygiene benefits from antiviral technologies
Polygiene said its revenues grew in the first quarter of 2020, despite production being halted across Asia due to the coronavirus outbreak. According to preliminary estimates, the Swedish company’s sales rose by 4.3 percent from the year-ago quarter, which the management partly attributed to the group being able to deliver ...
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ArticleVaude launches local delivery service platform
To support the specialized retail trade in times of the Covid-19 crisis, Vaude has set up a package of measures that should help the its retail partners to generate sales despite shop closures. This includes several options: local delivery service, support for online business and an accommodating approach to delivery ...
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ArticleGarmin supports initiative of the Robert Koch Institute to contain Covid-19
A new app called “Corona-Datenspende” (“Corona Data Donation”) presented by the German Robert Koch Institute (RKI) provides information on the distribution of the coronavirus in Germany. Users of the app, which is only available in the German app stores, voluntarily share selected health data that will help RKI scientists to ...
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ArticleColumbia and VF executives cut their paychecks
Without going as far as Tim Boyle at Columbia Sportswear, Steve Rendle, chairman, president and chief executive of VF Corp., has pledged to cut his compensation in half for the next four months to help save cash for the fight against the coronavirus outbreak. Boyle, president and CEO of Columbia, ...
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Moody’s is pessimistic about Amer’s outlook
Moody’s downgraded its ratings for Amer Sports’ debt to the lowest level possible, issuing a pessimistic short-term outlook for the company, acquired a year ago by Anta Sports Products and other investors. Moody’s expects a 20 percent decline in the group’s revenues this year, noting that its products are subject ...
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ArticleKathmandu’s sales jump by 52% on Rip Curl acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
